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✦ FREE LEARNING — CLASS 11 & 12 — CBSE · PSEB — ACCOUNTS · ECONOMICS · BST ✦
Amrit Ltd. issued 1,000; 6% Debentures of ₹100 each to each of Amrit and Bhaskar (Promoters) for their services in incorporating the company. Pass the Journal entry.
JOURNAL
| Date | Particulars | L.F. | Dr. (₹) | Cr. (₹) |
|---|---|---|---|---|
| Incorporation Cost A/c (2,000 × ₹100) Dr. | 2,00,000 | |||
| To 6% Debentures A/c | 2,00,000 | |||
| (1,000 debentures each issued to the promoters, Amrit and Bhaskar, for their services in incorporating the company) |
Accounting & Commerce Educator
Sarbjit Singh holds a B.Com and M.Com degree and has over 12 years of teaching experience in double entry bookkeeping, financial accounting, and business studies.
This guide covers "T.S. Grewal Class 12 Vol 2 Chapter 2 Q.17 - Issue of Debentures", focusing on key definitions, step-by-step concepts, applications, and revision guidelines relevant to Chapter 2 - Issue of Debentures.
It is primarily curated for Class 11 and Class 12 high school commerce, accounting, and economics students, as well as aspirants preparing for board exams or CA Foundation.
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